Kira Scherer Wampler Sells 2,000 Shares of Doximity (NASDAQ:DOCS) Stock

Doximity, Inc. (NASDAQ:DOCS) Director Kira Scherer Wampler sold 2,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total value of $52,000.00. Following the sale, the director directly owned 19,839 shares in the company, valued at $515,814. This trade represents a 9.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Doximity Stock Down 2.6%

Shares of NASDAQ DOCS opened at $25.39 on Friday. Doximity, Inc. has a 52 week low of $23.53 and a 52 week high of $76.51. The business has a 50-day simple moving average of $34.57 and a two-hundred day simple moving average of $51.76. The company has a market cap of $4.69 billion, a P/E ratio of 25.39, a P/E/G ratio of 4.10 and a beta of 1.44.

Doximity (NASDAQ:DOCS) last posted its earnings results on Thursday, February 5th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Doximity had a return on equity of 21.75% and a net margin of 36.60%.During the same quarter last year, the firm posted $0.45 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Doximity, Inc. will post 0.99 EPS for the current year.

Doximity declared that its Board of Directors has approved a stock buyback plan on Thursday, February 5th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOCS. Truist Financial lowered their price objective on Doximity from $62.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. BMO Capital Markets set a $25.00 target price on Doximity in a research report on Friday, February 6th. KeyCorp set a $38.00 target price on Doximity in a research note on Friday, February 6th. Mizuho dropped their price target on Doximity from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, February 10th. Finally, Evercore reissued an “outperform” rating on shares of Doximity in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOCS. Carmignac Gestion raised its position in Doximity by 355.9% during the fourth quarter. Carmignac Gestion now owns 1,893,026 shares of the company’s stock valued at $83,831,000 after purchasing an additional 1,477,798 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Doximity by 932.8% during the 3rd quarter. Voya Investment Management LLC now owns 1,567,668 shares of the company’s stock valued at $114,267,000 after purchasing an additional 1,415,882 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Doximity by 325,436.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,298,891 shares of the company’s stock valued at $57,515,000 after buying an additional 1,298,492 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Doximity by 3,422.7% during the 4th quarter. Federated Hermes Inc. now owns 1,249,085 shares of the company’s stock valued at $55,309,000 after buying an additional 1,213,627 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Doximity by 53.9% during the 2nd quarter. Franklin Resources Inc. now owns 3,162,593 shares of the company’s stock valued at $193,993,000 after buying an additional 1,108,162 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

Doximity Company Profile

Doximity, Inc, headquartered in San Francisco, California, operates the leading professional medical network for healthcare professionals in the United States. Founded in 2011 by Jeff Tangney and Shari Buck, the company set out to create a secure digital environment where physicians, nurse practitioners and physician assistants can collaborate, share information and stay current with clinical news. Doximity went public in June 2021 and trades on the NASDAQ under the ticker symbol “DOCS.”

The core offering of Doximity is its HIPAA-compliant communication platform, which includes a secure messaging system, digital fax services and telehealth capabilities.